India’s steel consumption declined by 5.2% in September to 6.2 million tons compared with the earlier month and increased by 5% compared to September 2014.
Moreover, the production of the metal too went down by 1.3% last month to 7.34 million tons compared with August 2015. However, in the first half of the fiscal, the consumption of total finished steel grew by 4.1% to 39.14 million tons compared with April-September 2014-15, as per the data compiled by Steel Ministry’s Joint Plant Committee (JPC).
Finished steel consumption grew by 4.6% in April-August 2015 at 33.025 million tons compared with the year-ago period. In August, the demand grew by 4.8% to 6.63 million tons compared with July and increased by 0.8% compared to August 2014, data showed.